Landlords hit by recent and forthcoming tax changes may wonder if it is better to buy a rental property through a limited company, rather than holding it personally. Holding it personally Where a property is held by an individual, the property income tax rules apply. The profits of the property rental business are charged to…
Buying a property to let – the importance of keeping records from day one
For tax purposes, good record keeping is essential. Without complete and accurate records, it will not be possible to provide correct details of taxable income or to benefit from allowable deductions. Aside from the risk of paying more tax than is necessary, landlords who fail to take their record keeping obligations seriously may also find…